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Global Pure Polyurea Material Market InsightDecember 31, 2021 Comments
The Pure Polyurea Material is forecast to crazy increase over the next years. According to the World Knowledge Information (WKI) “Global Pure Polyurea Material Professional Survey Report 2021, Forecast to 2026”, Pure polyurea coating material products have a wide range of applications. Their unique qualities, such as temperature stability, good bonding strength, high elongation and water resistance, are very useful for crack bridging.The compound annual growth rate (CAGR) for the 2021-2026 period is projected to be 10.73% base on WKI regression analysis model.
“It is recommended that suppliers provide a competitive cost structure, which is expected to broaden the application channels and have a positive impact on the industry. The growing focus on reducing greenhouse gas emissions from global warming is expected to force market participants to increase research and development costs to develop environmentally friendly products.”said Jennie, Senior analyst, Chemical industry Market Research Center in WKI.
The construction industry is increasingly using waterproof membranes to provide excellent sealing protection, and it is expected to promote the use of pure polyurea materials as raw materials for manufacturing finished products. Pure polyurea materials are also being used more and more because of their high aesthetic value. In addition, low manufacturing costs and increased application growth in the construction and automotive industries are expected to open up new market channels for polyurea coatings in the next eight years. It is expected that fluctuations in crude oil prices will lead to fluctuations in the prices of pure polyurea coatings.
However, the high permeability of polyurethane and polyaspartic acid coatings in the market due to their long life and low wear characteristics is expected to pose a credible threat to the polyurea coating industry during the forecast period. In addition, due to the low price compared with peers, the main consumption of epoxy-based coatings is expected to pose a challenge to the pure polyurea market in the next few years.
In February 2019, PPG invested US$10 million in a new 82,000-square-foot facility and Class A coating production line in its South Carolina coating service facility. This move was taken to meet the growing demand for Class A coatings in the automotive and large truck markets.The major players in the pure polyurea market include: SPI, Versaflex, PPG Industries, Polycoat Products, Krypton Chemical, Supe, Sherwin-Williams, Kukdo Chemicals, Wasser Corporation, Armorthane, Tecnopol,Nukote Coating Systems, Rhino Linings, SWD, Huate, Qingdao Air++ New Materials, Feiyang, BASF.
Segmentation of Pure Polyurea Material Market:
According to the type, the pure polyurea material market can be divided into: coating, sealant
other.Among them, coatings account for a larger share in the market, because the ease of use and flexibility of the complex surface of the coating are the main factors that promote the growth of the industry.According to the application, the pure polyurea material market can be subdivided into: Building & Construction, transportation, industrial, and others.Among them, construction and construction occupies a large share in the market. Pure polyurea coatings can be used on various substrates, such as concrete, metal and wood, suitable for various temperature and humidity environments, and are used for many waterproof, corrosion control, immersion and lining applications Ideal choice. These coatings are specifically used for residential and commercial applications. The high humidity resistance of the product increases its application range in roofs, membranes, sealing linings, decks, parking lots, bridges and offshore, thereby increasing demand.
Pure Polyurea Material Market: Regional Analysis
In terms of geography, the global Pure Polyurea Material market has been segmented into: North America, Asia Pacific, Europe, South America, and the Middle East and Africa.The Asia-Pacific region dominates the pure polyurea material market, followed by North America and Europe. The growth is mainly attributable to rapid economic growth and heavy investment in industries such as automobiles, ships, construction and manufacturing. The Asia-Pacific region is an emerging economy with many rapidly developing countries. Various industry players are willing to invest in the region. Most leading companies in North America and Europe plan to move their manufacturing bases to the Asia-Pacific region because of its ability to provide cheap raw materials, low-cost production, and better service to local emerging markets. Due to the increase in the disposable income of the middle-class population, the demand for high-quality products in the Asia-Pacific region continues to increase. This has led to an increase in demand for pure polyurea materials in the Asia-Pacific market.
Largest share area：Asia Pacific
Largest share country：China